Page 102 - Annual Report English 2018

Tycoons Worldwide Group (Thailand) Plc.

The reconciliation between accounting profit (loss) and income tax expenses (benefits)
is shown below.
(Unit: Thousand Baht)

Consolidated Separate
financial statements financial statements
2018 2017 2018 2017
Accounting profit (loss) before tax (28,453) 170,430 13,566 245,392

Applicable tax rate 20% 20% 20% 20%
Accounting profit (loss) before tax multiplied by
income tax rate (5,691) 34,086 2,713 49,078
Utilisation of previously unrecognised
deferred tax assets - (69,950) - (69,950)
Effects of:
Promotional privileges (6,978) (9,637) (6,978) (9,637)

Non-deductible expenses (12,023) (4,729) (12,023) (4,729)
Additional expense deductions allowed (86) (68) (86) (68)
Effect of elimination entry on the consolidated
financial statements 8,404 14,992 - -
Others 23,388 17,445 23,388 17,445
Total 12,705 18,003 4,301 3,011

Income tax expenses (benefits) reported in
the statement of comprehensive income 7,014 (17,861) 7,014 (17,861)

The components of deferred tax assets are as follows:

(Unit: Thousand Baht)
Statements of financial position
Financial statements
in which equity
method is applied/ Consolidated/
Separate financial Separate financial
statements statements

2018 2017
Deferred tax assets
Allowance for diminution in value of inventories 12,892 816
Provision for long-term employee benefits 4,529 4,037
Unused tax loss 38,456 58,038
Total 55,877 62,891

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